From Zerohedge, something to watch out for this weekend after last weeks $1 trillion Euroland bailout non-event :

Full profit taking in everything. Now even gold is plunging, but it is likely an LBMA “intervention.” EURUSD just broke through 1.23 and has no further realistic supports for a long time. The money has no option but to go into gold or money markets. For now it is not going into gold, which means it is a relatively good buying opportunity. Liquidity in stocks is now gone as volume picks up. Two of the desk traders we have spoken to are all wearing fireman’s hats, bracing for Flash Crash part 2. Look for much more action out of the ECB/FED/IMF/EU/X-Men/Ghostbusters before Asia opens this Sunday.

Hardly surprising that Germans are buying so much gold lately that the Austrian Mint is running out of stock :

The fragility of the euro triggered panic-buying of gold in mid-May 2010, pushing the gold price up to $1,233.95 a troy ounce.

The Austrian mint reported that demand for gold was so heavy that stocks could run out. Much of the demand came from Germany as investors ditched the euro amid fears for the future of the single European currency. (Click here for details of the German invention, the Gold to Go gold-dispensing machine.)

The massive European Commission-IMF loan to Greece and the establishment of a vast fund to rescue other European countries as necessary, did little to restore confidence in the euro. Instead, investors appeared to draw the conclusion that a lot of good money could be thrown after bad euro debts. Their response was to ditch the euro and switch into gold.

All of which should make for an interesting time when Mondays markets open.